In a significant move for international commerce and innovation, MSA Capital, through MSA Novo, its arm dedicated to investments in emerging markets, has joined forces with the Saudi Ministry of Investment (MISA) to enhance economic collaboration and innovation within the Kingdom of Saudi Arabia.
The agreement was formalized by HE Khalid A. Al-Falih, the Saudi Minister of Investment, alongside Yazeed Al-Shammari, MSA Partner responsible for the Saudi Innovation Initiative. The collaboration aims to advance economic ties and stimulate innovation within strategic industries such as logistics, fintech, core technology, healthcare, robotics, and e-commerce. It will also assist Saudi firms in attracting strategic investments from Asia, while simultaneously exploring collaborative opportunities within the capital markets. Moreover, the memorandum outlines initiatives to develop the venture capital environment in Saudi Arabia, establish joint ventures across various sectors, and consider setting up MSA’s Regional Headquarters within the country.
Minister Al-Falih expressed his enthusiasm for the partnership: “Our cooperation with MSA Capital signifies our determination to position the Kingdom as a global investment leader and a hub for technological progress. MSA’s dedication to the Kingdom over the past five years is commendable, and we are eager to see this partnership grow. We aim to harness this synergy to drive progress in Saudi Arabia’s fintech and technology sectors, aligning with the ambitious goals of Vision 2030.”
Jenny Zeng, MSA Capital’s founder and managing partner, also expressed optimism regarding the collaboration: “Working with MISA represents a crucial step in expanding MSA Capital’s international presence, particularly given Saudi Arabia’s robust economy and progressive outlook. We are excited to engage with these new opportunities and contribute to the Kingdom’s burgeoning innovation ecosystem.”
MSA Capital has been a prominent global investor in Saudi Arabia, with systematic investments, venture building, and establishing joint ventures over the last five years. With three partners stationed in Riyadh, MSA has invested over $45 million in nine Saudi-based companies and has assisted 19 global portfolio companies in entering the Saudi market. With over 250 global portfolio companies, MSA anticipates a significant increase in its presence in Saudi Arabia as a result of this agreement.
About MSA Capital: MSA Capital, founded in 2014, is an international firm specializing in private growth equity and venture capital. With over $2 billion in management, MSA has a global reach with offices in Greater China, South Asia, the Middle East, and North America.
About the Ministry of Investment of Saudi Arabia (MISA): MISA is a government entity in Saudi Arabia charged with overseeing foreign investments and championing the country as a premier global investment destination. It works towards creating a dynamic cross-government investment ecosystem and provides comprehensive support to businesses throughout their investment lifecycle.